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Practical Application of Elliott Wave Theory in Trading

lliott Wave Theory is a unique and independent analytical instrument that, with certain experience, yields impressive results. However, the Theory has not been formalized yet, does not have a shape of a trading system, hence, the result depends on the subjective interpretation of the analyst-trader.

Coronavirus Crisis Has Not Reached Its Peak

It has been a week since I posted my previous article but the S&P 500 stock index has managed to decline from 2800 to the low of 2475. On the whole, since February 20th, the decrease in the S&P 500 has amounted to 28%, which is the greatest decline of the index in the last 10 years. The current situation can easily be called a crisis, and its reason is not some overheated economy or a bubble in some sector but a virus.

Andrew's Pitchfork - Efficient Graphic Instrument

Andrew's Pitchfork is an instrument of graphic analysis based on the middle trendline and an equidistant channel. Unfortunately, this method of trading and analysis is not very popular among traders; however, it seems to be perfect for drawing a channel quickly and trading bounces off and breakouts of its borders.